Published on 2/21/2021 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $2.16 million autocallable securities on Dow, S&P
By Kiku Steinfeld
Chicago, Feb. 22 – Citigroup Global Markets Holdings Inc. priced $2.16 million of 0% autocallable securities due Feb. 10, 2026 linked to the Dow Jones industrial average and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will be automatically called at par plus an annualized redemption premium of 10.8% if each underlying index closes at or above its call level, on any annual review date. The call level is 100% of initial level.
If the notes are not called, the payout at maturity will be par plus the contingent return of 54% if each index finishes above its initial level.
If any index finishes below its initial level but each index finishes at or above its 70% knock-in level, the payout will be par. If any index finishes below its knock-in level, investors will lose 1% for each 1% decline of the least-performing index.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable securities
|
| Underlying indexes: | S&P 500, Dow Jones industrial average
|
| Amount: | $2,160,000
|
| Maturity: | Feb. 10, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 54% if each index finishes above its initial level; if either index falls by up to 30%, par; otherwise, investors will lose 1% for each 1% decline of the least-performing index from its initial level
|
| Call: | Automatically at par plus annualized redemption premium of 10.8% if each underlying closes at or above call level on any annual review date; call level is 100% of initial level
|
| Initial levels: | 3,886.83 for S&P, 31,148.24 for Dow
|
| Knock-in levels: | 2,720.781 for S&P, 21,803.768 for Dow; 70% of initial levels
|
| Pricing date: | Feb. 5
|
| Settlement date: | Feb. 10
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 0.35%
|
| Cusip: | 17328YRE6
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
